Meaning
A Passbook is a small booklet provided by banks that lists all the transactions of a savings or deposit account.
Purpose
It helps you track deposits, withdrawals, interest, and your current bank balance easily.
How It Works
You can update a passbook at the bank branch or update kiosk. It prints the latest entries, making it a reliable record of your account activity.
Why It Matters
- Works as proof of transactions
- Helps maintain financial records
- Useful for account verification
Also Read: Traditional Bank Passbook vs Digital Bank passbook
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